Cumberland Partners Ltd Has $3.91 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Cumberland Partners Ltd raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.8% in the fourth quarter, HoldingsChannel reports. The fund owned 2,300 shares of the company’s stock after acquiring an additional 500 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $3,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. boosted its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,075.79 on Thursday. The stock has a market cap of $105.24 billion, a P/E ratio of 73.25, a PEG ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average price is $1,853.78 and its two-hundred day moving average price is $1,951.83. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Analyst Ratings Changes

MELI has been the subject of several recent research reports. BTIG Research cut their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Barclays decreased their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,244.69.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.